The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.
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The Pennsylvania bank, which is working to diversify its deposit base and increase its access to low-cost deposits, has brought on some 10 commercial banking teams in the last year.
April 25
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For too long, banks have outsourced innovation, placing their future in the hands of outside vendors. That's no longer a viable strategy. Banks need to bring innovation in-house again.
April 25
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Acting Chair Travis Hill's push for quick weekend bank sales signals a break from past crisis strategies — but some experts warn of higher costs and increased consolidation risks
April 25
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The Federal Reserve withdrew expectations on crypto activity and dollar tokenization, while the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency also withdrew their versions of the guidance.
April 24
As the risk of a recession rises, commercial real estate loans remain a major concern for banks and industry participants. One observer asked: "Is '25 the year where sellers start to capitulate, call a loser a loser, and move on?"
The first year of Otting's tenure as the New York lender's CEO brought substantial change, but the job isn't done. His goal: to build a powerhouse, profitable regional bank.
Offices, apartment buildings and retail locations in Los Angeles face a tangle of difficulties as the smoke clears from January's wildfires. High on the list is inadequate insurance, a common problem in California.
A string of senior resignations and scrutiny over share sales rocked Bank of America's local operations last year.
A new survey shows banks overwhelmingly support state laws that let them pause transactions to prevent elder financial abuse, despite shortcomings.
Scambaiting, which started as a genre of YouTube content, is now a full-blown tech tactic — with support from Australia's biggest bank.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
- Valerie Abend, Accenture's financial services cybersecurity lead, explains what banks get wrong about fending off AI-based threats and what they should do instead.
- Generative AI will remove toil from our day to day jobs, argues Lukic, who is managing director and senior partner at Boston Consulting Group.
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In its latest financial stability report, the Federal Reserve found that asset prices continue to exceed underlying fundamentals and leverage levels remain high, especially by hedge funds.
8h ago
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The Consumer Financial Protection Bureau's exit from a suit jointly filed with the New York attorney general's office narrows a major subprime lending case.
9h ago
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Even with its IPO on ice, the Swedish buy now/pay later lender is building a base of high-profile distribution partners.
10h ago
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The acquisition of the $5.7 billion-asset HarborOne Bancorp would be Eastern's third purchase of a Boston-area bank in the last five years.
10h ago
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Ranjana Clark is the newest member of Texas Capital Bancshares' board of directors; Minnesota's Wings Credit Union and Colorado's Ent Credit Union are merging; Regions Bank adds Angela Santone to its C-suite; and more in this week's banking news roundup.
10h ago
